The Ministry of Land, Infrastructure and Transport announced on the 19th that the Jangwi District 12 area in Seoul has been designated as an urban public housing complex.
The urban public housing complex project aims to increase housing supply in urban areas by targeting old city centers where private redevelopment is challenging. It is a public-led initiative that provides benefits such as floor area ratio and supplies dwellings quickly. The designated Jangwi District 12 was designated as a planned area in October of last year.
Subsequently, with consent from more than two-thirds of the residents (land area of half), the project was designated through review by the Central Urban Planning Committee and the Central Land Expropriation Committee. The Ministry of Land, Infrastructure and Transport anticipates that the integrated review will approve the business plan in 2027, allowing construction to start in 2029. This designation has laid the foundation for housing supply in the area with a scale of 1,386 dwellings.
Lee Kyun-ho, an official from the Ministry of Land, Infrastructure and Transport’s Urban Housing Supply Division, noted, "To rapidly promote housing supply in urban areas with high demand, we plan to designate more than 10,000 mixed-use districts this year."